April has been a turbulent month for traders, characterized by extreme market volatility largely influenced by President Donald Trump’s tariff announcements. As the environment became increasingly chaotic, traditional safe-haven assets like gold and the Swiss Franc struggled to maintain their status, prompting investors to seek alternative refuges. In this shifting landscape, Bitcoin has emerged as a surprising contender for a safe haven.
According to NYDIG Research, while assets such as cash (the US dollar), bonds (US Treasuries), the Swiss Franc, and gold have historically served as safe havens, Bitcoin is starting to take on some of that role. The data indicates that following Trump’s announcement on April 2—a day termed ‘Liberation Day’—Bitcoin has been added to the roster of assets that investors are turning to for security amidst the turmoil.
NYDIG noted, “Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is.” The discussion around Bitcoin’s function as a non-sovereign store of value seems to be gaining traction as investors increasingly recognize its potential to thrive during uncertain times.
In light of the ongoing developments, it appears that Bitcoin is fulfilling its original promise, offering a refuge for investors as the traditional safe havens begin to lose their allure.
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